IHS Markit hits the mark with syndicated loan market data platform
IHS Markit is launching a portal that consolidates data for participants in the syndicated loan market.
The new portal aims to be a source for information that lenders, custodians, trustees and other service providers use to track syndicated loan holdings, including position data, asset servicing activity and loan reference data.
It combines data drawn directly from approximately 150 agent banks and the multiple loan market services provided by IHS Markit.
IHS Markit says its new offering is the first and only service in the loan market to integrate data from multiple agent technology systems to deliver a unified view of positions and servicing activity to lenders.
“Our agent network is technology agnostic and we process data from any system the bank has installed. This makes our portal a comprehensive repository for agent bank data and a true one-stop data solution for the market,” says Erik Woodling, executive director at IHS Markit.
The firm says the portal shows the interrelationship between key data points such as paydown notices and position data, so lenders can investigate loan data by themselves.
“The data that underpin position management, trade closing and asset servicing are related,” says Sarah Wagner, executive director at IHS Markit. “The portal connects these datasets so that if a lender detects inconsistency between their books and the agent’s, they can confirm whether servicing events and trades have been properly recorded.”
Electronic messaging solutions from IHS Markit enable firms to automatically bring reference data, asset servicing notices and other loan data directly into WSO and other source systems.